JUDGMENT

Sanjeev Sachdeva, J. (Oral)

CM No.31027/2022 (Exemption)

Allowed subject to all just exceptions.

FAO (OS) (COMM) 176/2022 and CM APPL. 31028/2022 (stay)

1. Appellant impugns judgment dated 24.02.2022 whereby the petition filed by the appellant under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the `Act') impugning the award dated 13.05.2015 has been dismissed.

2. At the outset, learned counsel for the appellant commenced his submissions by candidly referring to the judgment of the Supreme Court in Delhi Airport Metro Express Private Limited vs. Delhi Metro Rail Corporation Limited, (2022)1 SCC 131 wherein the Supreme Court has clarified the scope of examination under Sections 34 and 37 of the Act in the following terms:

"28. This Court has in several other judgments interpreted Section 34 of the 1996 Act to stress on the restraint to be shown by Courts while examining the validity of the arbitral awards. The limited grounds available to Courts for annulment of arbitral awards are well known to legally trained minds. However, the difficulty arises in applying the well-established principles for interference to the facts of each ca